NAMA puts Donegal developer’s €24m London site on market

The iconic Gillette complex located on Gillette Corner in west London was bought by Jim McGettigan’s Bonnington Group in 2005 for GBP 30m with the intention of developing the former European headquarters for Gillette into an upmarket hotel. According to Property Week, the loan is now not performing and on Friday, it was reported that NAMA has enforced the loan and the 10.3 acre with 327,000 sq ft of office and warehouse space is now on the market through Savills – listing not available yet – with a price tag of GBP 20m (€24m). The site has planning consent for a 500-bedroom hotel and 1/2m sq ft of offices.

Jim McGettigan (75) and his company are behind a number of hotels in Ireland, the UK and Dubai including the North Star Hotel in Amiens Street, the Royal Hotel in Bray, the Shieling Hotel in Raheny, the Regency Airport Hotel in Whitehall, Dublin, the Parliament Hotel on Lord Edward Street, Dublin, the Cavendish Hotel, Eastbourne, UK and the Bonnington Rooms, London and Bonnington Jumeirah Lakes Towers in Dubai. In 2011, it was reported to be in talks with AIB over €67m of loans.